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Standard Chartered Bank and Ant Financial sign MOU

Standard Chartered Bank and Ant Financial sign MOU

SCB will combine its banking expertise with Ant Financial’s industry leading FinTech capabilities

Standard Chartered Bank (SCB), a leading international banking group with a strong presence in Africa, and Ant Financial Services, one of the world’s leading digital financial services providers, have announced the signing of a Memorandum of Understanding (MOU).

Under its terms SCB will combine its banking expertise and insights in emerging markets such as Africa with Ant Financial’s industry leading FinTech capabilities, to increase access to financial services for clients.

José Viñals, Chairman of Standard Chartered, said: “It is our great pleasure to deepen the strategic partnership with Ant Financial. The MOU marks a new era of the co-operation between the most dynamic FinTech company and the most active international bank in emerging markets.

“Built on our joint commitment to inclusive financial services, and with the combination of cutting-edge technology and banking expertise, we aspire to explore and make due contributions to broaden access to inclusive financial services.”

Standard Chartered Bank has been working together with Ant Financial since 2012, in areas including funding settlement, FX services and Alipay wallet related solutions.

Eric Jing, Chief Executive Officer, Ant Financial, said: “Ant Financial is dedicated to using technology to make financial services more inclusive on a global scale.”

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